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MG Rover – Serious Fraud Office (SFO) to investigate

The Rover 75 Coupe - one of MG Rover's last big ideas before its collapse in 2005 MG Rover was bought from BMW for the princely sum of £10 after BMW had had enough of trying to make a viable company out of a business that was still undermined by the woes – and attitudes – of the British Leyland years. That £10 purchase price also came with £425 million in loans from BMW, so MG Rover had a chance. But the collapse, and the subsequent sale of the rights to the MG trademark to SAIC (Shanghai Automotive Industry Corporation), brought accusations that the ‘Phoenix Four’ – Directors and owners of MG Rover – has acted fraudulently when it was revealed they had acquired more than £40 million in pension rights, salary and assets in the intervening five years between purchase from BMW and collapse.

Geely president Li Shufu admits disputes with Volvo managers

Three months after becoming the new owner of the Swedish car brand Volvo, Zhejiang Geely Holding Group Co. President Li Shufu said he disagrees with Volvo's management about its product plans. Speaking last week at a forum hosted by the Chinese Web site of the Financial Times in Shanghai, Li said that Volvo should develop large cars for China.

Free of GM, Saab declares its independence

Saab Automobile AB is reinventing itself as an independent automaker. Since its sale by General Motors Co. to Spyker Cars NV in February, Saab has been re-evaluating every aspect of its business.